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The forum was held with an aim to enhance their chances of winning these contracts,
raise awareness on the importance of government procurement, and highlight its crucial
role in boosting the national economy. The event, which was attended by Abdullah bin
Touq Al Marri, Minister of Economy, saw the participation of over 80 federal entities,
local companies, and a large number of Emirati SME-owners.

Bin Touq said that the UAE, under the guidance of its wise leadership, has placed
significant emphasis on advancing the SMEs sector considering it as a key driver of
national economic growth. The government ensures ample opportunities and resources
for nurturing this vital sector, which now has a direct and effective impact on the UAE’s
economic development journey.

He said, “The SMEs in the local market are currently active in all key economic sectors
that support the country's shift towards a new knowledge-based economic model.
These sectors include FinTech, innovation, AI, digital transformation, manufacturing,
healthcare, smart mobility, tourism, and creative industries. Today, SMEs make up 95
per cent of all businesses in the country and employ around 86 per cent of the private
sector workforce.”

“The forum serves as a national platform that reflects the UAE's vision to empower
Emirati entrepreneurs to embrace innovation and boost their role in the national
economy, while also enhancing their competitiveness at global and regional levels. This
event has brought together the largest number of federal entities and local companies
offering tenders and government procurement contracts to Emirati SME-owners,
encouraging them to fully capitalise on these opportunities in the near future,” he added.

The Minister of Economy continued, “Over the past three years, the Ministry of
Economy has worked diligently to support Emirati entrepreneurs across different
economic sectors. The Ministry introduced various initiatives to boost the growth of
Emirati SMEs, aid their expansion into international markets, and facilitate their access
to financing and investments, equipping them with necessary resources and tools for
success and continuity. These efforts aim to establish the UAE as a prime hub for
entrepreneurship and startups, in line with the ‘We the UAE 2031’ vision.”

In addition, Bin Touq explained that one of the most outstanding initiatives in this regard
is the ‘National Program for SMEs,’ established under Federal Law No. 2 of 2014 on
SMEs. The program has offered over 25 services and incentives to projects initiated by
Emirati entrepreneurs through partnerships with both governmental and private sectors.
Over 5,000 members have already benefitted from the program and efforts are
underway to increase this number by introducing new services and incentives.
Additionally, support will be extended to over 600 SMEs through “The Entrepreneurial
Nation’ project, and the launch of the ‘Future100’ initiative aimed at supporting the
UAE's vision to develop a knowledge-based economy.

During his participation in the forum, Bin Touq conducted an inspection tour of the
venue reviewing tenders and contracts offered by federal entities and national

https://www.msn.com/en-ae/news/other/ministry-of-economy-organises-national-forum-for-
smes-government-procurement/ar-AA1nA81e